Mercer Global Advisors Inc. ADV Sells 97,499 Shares of Deere & Company (NYSE:DE)

Mercer Global Advisors Inc. ADV reduced its stake in shares of Deere & Company (NYSE:DE) by 74.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 33,655 shares of the industrial products company’s stock after selling 97,499 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Deere & Company were worth $14,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of DE. Robertson Stephens Wealth Management LLC raised its stake in Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 22 shares in the last quarter. DLK Investment Management LLC increased its holdings in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after buying an additional 24 shares during the period. Quent Capital LLC raised its position in shares of Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after buying an additional 24 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Deere & Company by 0.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after acquiring an additional 24 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in shares of Deere & Company by 4.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 25 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Up 0.3 %

Shares of NYSE DE opened at $481.40 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a market cap of $130.66 billion, a PE ratio of 21.34, a P/E/G ratio of 2.14 and a beta of 1.00. The company’s fifty day simple moving average is $464.80 and its 200 day simple moving average is $448.33.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is 28.72%.

Analysts Set New Price Targets

Several research analysts have commented on DE shares. Morgan Stanley boosted their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Citigroup lowered their target price on Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, UBS Group dropped their price objective on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $460.21.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.